Louisville, IL Mortgage Rates and Refinance Rates

Mortgages in Louisville, IL: Find the best Louisville, IL mortgage rates today from banks and credit unions. When results are displayed for mortgage rates in Louisville, IL, you can easily sort your search results by lender, rate, APR and points so you can easily compare results. Whether you’re looking for conforming, jumbo, adjustable or interest-only mortgage rates in Louisville, IL. Another option is searching for Louisville, IL refinance rates if you're looking to refinance a loan. Best of all you don't have to provide any personal information to see a list of Louisville, IL mortgage rates or refinance rates.

Search and Compare Louisville, IL Mortgage Rates & Refinance Rates

Louisville, Illinois Conforming Mortgage Rates and Refinance Rates

Conforming home mortgage rates in Louisville, IL are the most popular type of mortgages rates you can find advertised for home buyers in Louisville, IL. Conforming mortgages, also known as conventional mortgages, are mortgages that meet certain criteria set out by Federal Housing Finance Agency (FHFA). There is a loan limit set for each county in the United States. Higher mortgage loan limits are set for high housing cost areas. Louisville, IL mortgages that 'conform' to the standards set out by the Federal Housing Finance Agency can be purchased by government sponsored entities (GSE) like Freddie Mac and Fannie Mae. This process guarantees Louisville, IL banks, mortgage companies and credit unions are able to resell home mortgage loans that they make. This process also makes Louisville, IL conforming mortgage rates and refi rates lower than Louisville, IL jumbo mortgage rates and jumbo refinance rates because the GSE's can’t purchase jumbo mortgages that are made by Louisville, IL home finance companies, credit unions and banks.

Jumbo Mortgage Rates and Refinance Rates in Louisville, Illinois

Jumbo mortgage rates in Louisville, IL are advertised for home loans that have a dollar amount that is higher than conventional loan amounts. Jumbo mortgage rates and jumbo refinance rates are always higher than conventional mortgage rates for both fixed mortgage rates in Louisville, IL and adjustable mortgage rates in Louisville, IL. Interest rates are higher because third party investors buy the home loans credit unions, banks and mortgage companies in Louisville, IL make.

Louisville, Illinois Fixed Mortgage Rates and Fixed Refinance Rates

Louisville, IL fixed rate mortgages are the most common mortgage available to borrowers. With a fixed mortgage the interest rate stays the same for the entire loan period. Fixed mortgages are available in 40 years, 30 years, 20 years, 15 years and 10 years. The longer the mortgage term the lower the monthly mortgage payment will be.

Louisville, Illinois Adjustable Mortgage Rates

Adjustable Louisville, IL mortgage rates are fixed for a period of time and then the mortgage rate adjusts every year after. The most common adjustable mortgages terms available in Louisville, IL are 1 year, 3 year, 5year and 7 year. Adjustable rate mortgages are advertised as 1 year, 3/1, 5/1 and 7/1. Adjustable mortgages are available for conforming dollar amounts and jumbo dollar amounts in Louisville, IL. Most adjustable mortgages in Louisville, IL have yearly caps and life time maximum caps on how high the interest rate can fluctuate.

Google Map for Louisville, IL Rates & Resources

Louisville FDIC Insured Banks

Bank Name

FDIC Cert Number


Clay County State Bank

10821 111 North Church Street, Louisville, IL 62858

Flora Bank & Trust

22598 330 North Rt 45, Louisville, IL 62858

The Clay City Banking Co.

10845 225 Route 45 North, Louisville, IL 62858